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International

IAG, Suncorp, QBE expected to stop reducing rates

October 13, 2015 Reprints

Australian insurers such as Insurance Australia Group Ltd., Suncorp Group Ltd. and QBE Insurance Group Ltd. are likely to stop reducing commercial insurance rates, reported The Sydney Morning Herald.

Data from BizCover, a commercial insurance comparison website, showed that overall commercial insurance prices continued falling in the third quarter of 2015, down 1% from the previous quarter.

"While pricing continues to fall, the rate of reduction has slowed markedly and is more concentrated, pointing to a stabilization in rates over the next few quarters," a BizCover official said.

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IAG, Suncorp, QBE expected to stop reducing rates

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